Axa XL
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A Q1 results update shows total revenues at Axa XL increased 4% to EUR6.2bn ($6.5bn) as top-line growth was offset by drop in revenue at Axa XL Re. -
The new chief joined XL Catlin in 2017 and previously worked for Swiss Re and CV Starr.
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Axa XL’s UK and Lloyd’s CEO said speed of decision-making was key to UK market growth.
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In his new role, Andy MacFarlane will be in charge of developing Axa’s climate strategy.
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Guy Van Hecke, deputy CEO of Axa Global Re and head of group reinsurance, stepped in to lead the unit on an interim basis.
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The insurer follows Allianz in reporting a loss that implies reinsurance has been triggered.
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The French mutual has been looking to expand, with recent unsuccessful attempts to acquire Scor and PartnerRe.
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The ILS vehicle has support from four key providers and will be launched alongside a broader offering including K&R, fine art and other specialty risks.
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The new Axa XL Reinsurance Limited consolidates the carrier’s reinsurance operations.
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The Italian carrier’s general manager returns to Axa after five years.
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The insurers is to sever all ties with the German utility this year due to the size of its coal operation.
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The carrier increased US-exposed reinsurance limit by EUR250mn but almost halved its group aggregate.
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